Dollar$ & $ense November 2024

November 2024

Systematic Delays

The delay in delivery of the 2024-2025 FAFSA, in conjunction with the implementation of the MyBU student services caused unexpected systematic delays, beyond the control of SFS, and even Boston University. Earlier in the summer, SFS provided estimated deliver dates of financial aid that were unfortunately not met. While those delays were out of SFS’s purview, and were based off best faith information known at the time, nevertheless we sincerely apologize for any and all delays.

Our staff, both at SFS and elsewhere at BU, are working hard to make sure that all students who anticipate financial aid for the 2024-2025 year will have their financial aid post to their accounts. Currently, SFS is working to ensure accurate delivery of all funds including federal unsubsidized loans, PLUS loans, private education loans or BU funding. Over the course of the fall semester, funding will be posted to student accounts, as it is available to do so. Your MyBU Student Portal will reflect those updates as they come, and SFS will notify you of the changes when they occur.

We thank you for your patience during this time of transition.

Cost of Attendance Increase Requests

The Cost of Attendance (COA) increase appeal process allows Student Financial Services (SFS) to review additional educational expenses incurred during your period of enrollment. You must already be receiving financial aid up to your COA and your expenses must exceed the standard allowances for the academic year.

Pre-Requisite: All students must have needed to complete and submitted proof that they have completed Kindros Budgeting 101 at the time of submitting their appeal information.

Cost of Attendance (COA) Increase Request

Financial Aid Updates

We have begun processing federal financial aid and updating bills to reflect it. Students should make sure to check their MyBU Student Portal to view and accept/decline their aid. If you are a student who would like to accept their federal loans, please be sure you have completed the federal loan requirements.

Entrance Counseling & Master Promissory Note

With the continued delays of financial aid and system issues, there will be no late fees or other penalties at the time. Further guidance will be provided but please note that failure to settle your balance by the end of the semester may result in registration holds. Those who are still awaiting financial aid however will not incur any holds if this is the case.

Loans

2025-2026 FAFSA Form

The 2025–26 Free Application for Federal Student Aid (FAFSA®) form is estimated to be available on December 2024.

Federal Unsubsidized Loans

Our Federal Student Loans page provides details of the annual maximum for the Federal Unsubsidized Loans, per your program, and year of study. If you are a new borrower of the Federal Unsubsidized loans, please make sure to complete the Entrance Counseling and Master Promissory Note at studentaid.gov.

Graduate PLUS Loans

Beginning with the 2024-2025 academic year, students will apply for the Federal Graduate PLUS loan through StudentAid.gov. The 2024-2025 Graduate PLUS loan application is now open. Detailed application instructions and an FAQ are available on the SFS website. First time PLUS borrowers and those who have borrowed with an endorser in the past should also complete a Master Promissory Note (MPN) for Direct PLUS Loans.

Private Credit-Based Loans

If you applied and were approved for a private, credit-based loan, these loans will be certified and applied to your account when systematically possible. Confirm with your lender to ensure that you’ve completed all documentation to allow for the loan disbursement.

Institutional Loan Recipient Information

If you are receiving a BU loan this year, we have not yet sent out the promissory notes. We will be outreaching to those students during the semester to complete their documents. Please continue to check your email over the semester for that notice.

SAVE Loan Repayment Plan

Our colleagues at the Student Loan Professor provided a comprehensive update about the status of the Federal SAVE Loan Repayment Plan.

Scholarships

Students who received BU-based scholarships in the 2023-2024 year will have those awards renewed and posted to your student accounts as applicable (if they have not already done so).

Students whose registration status changed from last year to this year or returning from a leave of absence, should contact Student Financial Services for detailed information about their financial aid.

New students’ scholarships are being applied, based on the information provided to you upon your acceptance to your program. However, if you received a scholarship, and it has yet to post, the scholarship will apply soon.

Work Study

For 2024-2025 Work Study funds, students should complete the Fall/Spring Federal Work Study Application. (GMS/SPH students only)

Federal Work Study available for 24-25 is in the process of being awarded.

Fall Refund

If your fall loans have disbursed to your account, you can receive your remaining full semester refund. The Student Accounting Services Office will be processing refunds automatically for those with federal funding. There are no additional forms needed to be complete in order to receive your refund.

*Instructions to set up electronic refund here.

Food Insecurities & Resources

The semester can get busy between classes, moving and the general day-to-day tasks. If you are experiencing food insecurity, we are here to provide some helpful resources!

• BU Food Pantry

• Resources to Support Food Needs
• Food Insecurity Resources

Scholarships

Resources

Kindros

Questions? Speak with SFS!

Check out our website for ways to connect!

Contact:

Phone: 617-358-6550

Office: Robinson, B-401

Open: M-TH 10 AM – 1 PM; 2 PM – 4 PM (3-4 PM on Wed.)

Email:

Med: osfs-camed@bu.edu

SDM: osfs-sdm@bu.edu

GMS: osfs-gms@bu.edu

SPH: osfs-sph@bu.edu

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